Question

if a store uses a selling price based markup of 40% and an item cost the store $300 what selling price would the store set for the item

Answer 1

Answer:

The selling price would be $420.

Step-by-step explanation:

In order to find the mark up, we need to multiply the amount it originally costs by the percentage it is being marked up.

$300 * 40% = $120

Now that we have the mark up amount, we add it to the original cost to get the sale price.

$300 + $120 = $420